The Chinese stocks rallied after the People’s Bank of China decided to cut the interest rate for the second time this year, from the recent 5.35% to 5.10%. Despite the negative Chinese data released on Saturday, most stocks were supported by the interest rate cut, leading the Chinese indices to another positive session. The Shanghai Composite was up by more than 3%, recovering from its drop at the beginning of this month and continuing with the upwards movement which started on last Friday. The Hang Seng Index was also higher by 0.51%, reaching the value of 27,718. The Japanese market also performed positively today, with the Nikkei 225 increasing by 1.51%, in addition to other major stocks like Panasonic Corp. and Sony Corp. increasing by more than 2%.
After the awaited Nonfarm Payroll data, the major American indices were higher. While the data was below forecast, it was still considered bullish for the economy as it showed a significant improvement in the labor market from last month’s result, which was the lowest since February, 2014. In addition, the Unemployment Rate dropped to 5.4%, the lowest percentage since 2008, contributing to the bullish sentiment in the markets. The Nasdaq closed higher than 5,000 and went up by 1.17%, while the Dow Jones closed higher than 18,191 after rising by 1.49%. The S&P 500 was higher by 1.35%, closing at the value of 2,116.10. The dollar was also stronger against most currencies, as it traded at $1.115 against the euro following the release of the data.
The European session was mixed today, as the major indices in the region performed differently at the beginning of the session. The FTSE 100 was slightly higher at the beginning of the session, touching the level of 7,075. The interest rate was left unchanged by the Bank of England following their decision today, and remained at 0.50%. The German DAX was lower by 0.66%, with several of its components down, such as the manufacturing Daimler and Volkswagen AG. Elsewhere, the French CAC 40 was also affected by the performance of its constituents, and dropped by 1.15%. The CAC was dragged down by the 4% drop of the Airbus Group, after one of the corporation’s planes crashed during a test flight.
May 11, 2015 – Indices News
The Chinese stocks rallied after the People’s Bank of China decided to cut the interest rate for the second time this year, from the recent 5.35% to 5.10%. Despite the negative Chinese data released on Saturday, most stocks were supported by the interest rate cut, leading the Chinese indices to another positive session. The Shanghai Composite was up by more than 3%, recovering from its drop at the beginning of this month and continuing with the upwards movement which started on last Friday. The Hang Seng Index was also higher by 0.51%, reaching the value of 27,718. The Japanese market also performed positively today, with the Nikkei 225 increasing by 1.51%, in addition to other major stocks like Panasonic Corp. and Sony Corp. increasing by more than 2%.
After the awaited Nonfarm Payroll data, the major American indices were higher. While the data was below forecast, it was still considered bullish for the economy as it showed a significant improvement in the labor market from last month’s result, which was the lowest since February, 2014. In addition, the Unemployment Rate dropped to 5.4%, the lowest percentage since 2008, contributing to the bullish sentiment in the markets. The Nasdaq closed higher than 5,000 and went up by 1.17%, while the Dow Jones closed higher than 18,191 after rising by 1.49%. The S&P 500 was higher by 1.35%, closing at the value of 2,116.10. The dollar was also stronger against most currencies, as it traded at $1.115 against the euro following the release of the data.
The European session was mixed today, as the major indices in the region performed differently at the beginning of the session. The FTSE 100 was slightly higher at the beginning of the session, touching the level of 7,075. The interest rate was left unchanged by the Bank of England following their decision today, and remained at 0.50%. The German DAX was lower by 0.66%, with several of its components down, such as the manufacturing Daimler and Volkswagen AG. Elsewhere, the French CAC 40 was also affected by the performance of its constituents, and dropped by 1.15%. The CAC was dragged down by the 4% drop of the Airbus Group, after one of the corporation’s planes crashed during a test flight.
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